Daily News

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Lok Sabha passes Bill on cheque bounce cases

LS passed Negotiable Instruments (Amendment) Bill that allows a court hearing a cheque bounce case to direct drawer- person who wrote the cheque-to pay interim compensation (within 60 days of order, up to 20% of cheque value) to person who filed complaint.

Did you Know

The Bill was introduced in the Lok Sabha in January, 2018.

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NCTE amendment Bill passed

LS passed National Council for Teacher Education (Amendment) Bill to grant recognition to institutions that are conducting teaching courses without NCTE approval. Institutions have to obtain recognition from NCTE under sec 14 of NCTE Act.

Did you Know

NCTE Act, 1993 enacted in 1995 & applies to all parts except J&K

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Sukanya Samriddhi account: In new rule, minimum deposit amount slashed

Minimum yearly deposit under girl child savings scheme, Sukanya Samriddhi Yojana, has been lowered to ₹250 from ₹1,000. Interest rate is revised every quarter like other small savings schemes & PPF. For July-September quarter, the rate has been set at 8.1%

Did you Know

SSY was launched in January 2015 under Beti Bachao Beti Padhao

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Kerala ranked best-governed state by Public Affairs Centre

Kerala has been ranked the best-governed state for the third consecutive year by Public Affairs Centre (PAC) in its Public Affairs Index. Tamil Nadu, Telangana, Karnataka and Gujarat followed Kerala in the list. Kerala was ranked 11th in economic freedom.

Did you Know

PAC-releasing the index since 2016 & ranks acc to socio-eco dev.

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India extends $200 million credit lines to Rwanda; Modi holds talks with Kagame

India extended $200 million lines of credit to Rwanda as PM Narendra Modi held wide-ranging talks with President Paul Kagame & discussed measures to boost the bilateral strategic ties by strengthening cooperation in trade and agriculture sectors.

Did you Know

Rwanda capital: Kigali currency: Franc President: Paul Kagame

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Standard Chartered extends Rs 3,500 crore loan to Vedanta

Standard Chartered Bank (SCB) has opened a credit line of Rs 3,500 crore for Vedanta to help finance the purchase of Electrosteel the second biggest bad loans resolution under the Insolvency and Bankruptcy Code (IBC).

Did you Know

SCB CEO: Bill Winters
Headquarters: England, United Kingdom

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Iran becomes India’s No. 2 oil supplier

Iran was the 2nd biggest oil supplier to Indian state refiners between April & June replacing Saudi Arabia as companies took advantage of steeper discounts offered by Tehran. India shipped 5.67 mn tonnes of oil from country in first 3months of this year.

Did you Know

Iran President: Hassan Rouhani Capital: Tehran Currency: Rial

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BMW appoints Vikram Pawah as CEO of Australia business

German luxury automaker BMW AG has appointed its India head Vikram Pawah as chief executive of BMW Group Australia and New Zealand with effect from 1 August. Pawah, 47, has additionally been promoted as chairman of BMW Group India.

Did you Know

BMW CEO- Harald Krüger
Headquarters: Munich, Germany

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Banks, financial institutions sign an agreement to speed up resolution of bad loans

Nearly 2 dozen Banks & Financial Institutions, including SBI and LIC, have signed the inter-creditor agreement (ICA) framework to speed up the resolution of stressed assets which are under ₹500-crore bracket. The framework is part of the Project Sashakt.

Did you Know

Project Sashakt- 5-prong strategy to deal with NPA

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Sunil Chhetri, Kamala Devi adjudged 2017 AIFF Player of the Year

India captain Sunil Chhetri was named by the All India Football Federation as its Player of the Year while Kamala Devi bagged the 2017 AIFF Woman Player of the Year. Anirudh Thapa had been declared the AIFF Emerging Footballer of the Year.

Did you Know

AIFF Founded on 23 June 1937
President: Praful Patel